PGIM Real Estate raised €304 million at the first close of its European Core Diversified Property Fund, or EuroCore, an open-end, diversified real estate fund.

The fund invests primarily in the residential sector in major European metropolitan markets, with a focus on Germany and France, where it has five office and logistics assets for its seed portfolio.

The company expects EuroCore to be a part of the newly created INREV-ODCE fund universe and index.